Business Recorder (30/04/2020) - Chicago Board of Trade soyabean futures declined on Tuesday, notching one week low as end-of-month positioning and a weak Brazilian real hurt US export prospects, traders said.
CBOT July soyabean futures settled down 4-1/2 cents at $8.32 per bushel after dipping to $8.29-1/2, the contract's lowest since April 21.
CBOT July soyameal ended down $3.10 at $288.40 per short ton while CBOT July soyaoil rose 0.30 cent to finish at 25.77 cents per pound.
Argentine farmers have suspended soya and corn harvesting in the country's central grains belt due to heavy rains, while the extra moisture was expected to help wheat planting scheduled to start in May, growers and analysts said.
Malaysian palm oil futures recouped early losses to end marginally higher, tracking a rise in Brent crude and CBOT soyaoil, but concerns over slowing demand due to the coronavirus outbreak limited gains.
US farmers planted 8% of their intended soyabean acres as of Sunday, the US Department of Agriculture said late Monday, in line with trade expectations and ahead of the five-year average of 4%.
Read more at https://www.brecorder.com/2020/04/30/593355/cbot-soyabean-futures-fall-to-one-week-low/